Renaissance Technologies LLC Buys 36,200 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Renaissance Technologies LLC boosted its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 36.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 136,700 shares of the company's stock after purchasing an additional 36,200 shares during the quarter. Renaissance Technologies LLC owned about 0.46% of Inspire Medical Systems worth $25,341,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. First Horizon Advisors Inc. grew its position in Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. Huntington National Bank grew its holdings in shares of Inspire Medical Systems by 228.3% during the fourth quarter. Huntington National Bank now owns 174 shares of the company's stock valued at $32,000 after buying an additional 121 shares during the last quarter. Harbour Investments Inc. increased its position in shares of Inspire Medical Systems by 101.0% during the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company's stock valued at $37,000 after acquiring an additional 99 shares in the last quarter. AlphaQuest LLC increased its position in shares of Inspire Medical Systems by 7,275.0% during the fourth quarter. AlphaQuest LLC now owns 295 shares of the company's stock valued at $55,000 after acquiring an additional 291 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in Inspire Medical Systems by 61.9% in the 4th quarter. Quadrant Capital Group LLC now owns 327 shares of the company's stock worth $61,000 after acquiring an additional 125 shares during the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, CTO John Rondoni sold 583 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the transaction, the chief technology officer now directly owns 10,424 shares in the company, valued at $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the sale, the insider now directly owns 7,259 shares in the company, valued at $1,332,026.50. This trade represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP traded down $3.11 during midday trading on Tuesday, hitting $146.59. The company had a trading volume of 273,216 shares, compared to its average volume of 591,130. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 84.73, a PEG ratio of 2.86 and a beta of 1.39. The company has a fifty day moving average of $168.13 and a two-hundred day moving average of $184.49. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. Research analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on INSP shares. KeyCorp restated an "overweight" rating and issued a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Robert W. Baird dropped their price target on shares of Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a report on Tuesday, February 11th. Royal Bank of Canada reduced their price target on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday. Morgan Stanley lowered their price objective on shares of Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 11th. Finally, Truist Financial cut their target price on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $222.20.

Inspire Medical Systems Profile

Inspire Medical Systems, Inc, a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.